Under the Affordable Care Act, plan sponsors and some employers are required to report information about healthcare coverage offerings to the IRS. The IRS uses this information to verify that employers are meeting the terms of the employer mandate and to confirm that those claiming the premium tax credit or subsidies for insurance purchased through the health insurance exchanges did not have access to other qualified health plan coverage for the specified time period.
Plan members will receive a copy of the information forms that the Board provides to the IRS to comply with these requirements. Please check that the information you receive is accurate and keep it for your records.
For more information, read the Q&A article on the IRS website.
If you have questions about this information, contact the Board of Pensions at 800-773-7752 (800-PRESPLAN) to speak with a service representative or email firstname.lastname@example.org.